Apple reportedly close to acquiring Beats Electronics for as much as $3.2b

A new report from Financial Times claims that Apple is close to signing a $3.2 billion acquisition deal for Beats Electronics that would bring both its headphones business and its new streaming music service into the fold. The agreement has yet to be finalized, but the report claimed that an announcement could come as early as next week.

It’s also not clear what exactly Apple hopes to gain from Beats, as its streaming music service is still unproven. Beats Music launched in January and is believed to have subscriber counts in the “low six figures.”

Interestingly, smartphone maker HTC was formerly a majority investor in Beats, but it sold back its stake in 2012 and 2013. Beats President Luke Woods explained last October that the partnership between the two firms ended because the “landscape had just changed” and Beats was able to stand on its own.

Beats declined to comment when contacted by TNW. We’re waiting to hear back from Apple.

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